As 2026 approaches, SPC Nickel (TSX-V:SPC) CEO Grant Mourre tells Mining.com.au that its assets offer “scale and optionality” as the world needs more critical metals in responsible jurisdictions.
“That’s exactly where polymetallic districts like Muskox and camps like Sudbury shine – they offer multi-commodity exposure, high-value per tonne and the potential for long-life ‘generational’ assets, which we highlight in our Muskox presentation,” Mourre says.
“Polymetallic systems naturally balance revenue streams across cycles rather than tying the company’s fortunes to a single commodity.”
Polymetallic is often referred to as a basket of minerals. A polymetallic deposit can contain multiple valuable metals such as lead, zinc, copper, gold, silver, nickel, and manganese, rather than just one.
In SPC Nickel’s case, polymetallic refers to copper, nickel, and platinum group metals.
On the copper side, Mourre notes that the direction the market is going is clear.
“Demand from grid expansion and now AI-driven data centres is rising steadily, and multiple independent forecasts point to structural deficits emerging over the next decade as new supply struggles to keep up,” he says.
“Nickel is almost the mirror image in the short-term. Rapid supply growth from Indonesia has created a significant surplus and pushed prices down, and most analysts expect the market to remain oversupplied for several years, even though nickel remains essential for many higher-performance battery chemistries and stainless steel.”
Meanwhile platinum group metals sit somewhere in between, as primary supply is constrained and platinum and palladium are facing multi-year deficits if investment does not return.
At the Muskox Project in Canada, there are copper-rich and nickel-rich sulphides that have ‘strong’ platinum group metal values at surface and in historical drilling.
As Mining.com.au reported, SPC Nickel is assessing geophysics data after and completing quality assurance and quality control (QAQC) work on results from its 2025 field program at Muskox.
Following completion of two airborne surveys, Mourre previously told this news service that SPC Nickel did something a little bit different and we brought up a diamond bladed channel saw, which allowed it to cut the fresh material out that the company was unable to before.
“And you know the results kind of speak for themselves and really show why we are excited about this project,” the CEO said.
“You know some of the results that came out in copper equivalents are fantastic – 70%-plus copper equivalents at surface in multiple spots.”
“It’s just not from one outcrop, it’s from multiple outcrops that span a distance of 20, 30km. So great mineralisation over big areas, which is always a good sign when you’re doing this sort of exploration.”
Muskox shows similar geological features as global giants including Norlisk, Sudbury, and Voisey’s Bay including basal contact, Keel Zone, feeder dyke, and stratiform reef-style mineralisation.
SPC Nickel is a mineral explorer focused on discovering Canada’s next generation of copper-nickel projects.
Write to Aaliyah Rogan at Mining.com.au
Images: SPC Nickel
